$ENA down, target $0.135. Above $0.159 I'm wrong.
USDe added 339M USD in 7 days to 4.91B USD, the largest gain of any stablecoin above 200M USD supply. Over the same week USDT shed 2.07B USD and USDC shed 1.30B USD.
The token is not following. ENA fell from $0.1902 on Oct 30 to $0.1428, down 25%, and no daily high since Nov 9 printed above $0.159. Funding is flat at +0.0013% per 8h, long/short 1.17.
Why the token ignores that stablecoin growth is unproven. That is why I take the downside first.
Which comes first, $0.135 or $0.159?
USDe added 339M USD in 7 days to 4.91B USD, the largest gain of any stablecoin above 200M USD supply. Over the same week USDT shed 2.07B USD and USDC shed 1.30B USD.
The token is not following. ENA fell from $0.1902 on Oct 30 to $0.1428, down 25%, and no daily high since Nov 9 printed above $0.159. Funding is flat at +0.0013% per 8h, long/short 1.17.
Why the token ignores that stablecoin growth is unproven. That is why I take the downside first.
Which comes first, $0.135 or $0.159?
